What Are The 5 Takeaways From The Acoustic Insulation Market Overview 2024
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The acoustic insulation market has experienced robust expansion, escalating from <$14.58 billion in 2023 to <$15.86 billion in 2024, representing a compound annual growth rate (CAGR) of 8.8%. The historical growth can be attributed to the burgeoning construction industry, compliance with regulatory standards, urbanization, demand from the automotive sector, and evolving consumer preferences. As we look forward to 2028, the market is poised to maintain its strength, projected to reach <$21.94 billion with a CAGR of 8.4%. Anticipated contributors to this growth include smart cities initiatives, concerns for energy efficiency, expansion in the hospitality sector, renewable energy projects, government initiatives, and the enduring impact of the global pandemic. Key trends for the forecast period involve advancements in material technologies, sustainable insulation solutions, technological integration for smart buildings, and innovations in HVAC systems.
The increase in awareness regarding noise pollution is contributing to the growth of the acoustic insulation market. According to the European Environmental Agency, 20% of the population lives in areas where noise levels are considered to be harmful. The rise in noise pollution forced companies to develop solutions for buildings with soundproof walls, and acoustic insulation proved a better method of soundproofing. Thus, increasing awareness of noise pollution drives the growth of the acoustic insulation market. The acoustic insulation market is projected to reach $8.5 billion in 2023, further escalating to $10.2 billion in 2024. By 2028, the market is forecasted to achieve a size of $14.6 billion.
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What Are The Key Trends That Influence Acoustic Insulation Global Market Report 2024 Market Share Analysis?
The key players in the acoustic insulation market are focusing on developing innovative products with advanced technologies and greater efficiency to limit sound between rooms. For instance, in June 2023, Armacell, a Luxembourg-based manufacturer of insulation products, launched ArmaComfort ABJ, a new multi-layer acoustic system solution designed to reduce noise in various applications. This innovative product addresses noise issues in drainage pipes, offering a flexible and easy-to-fit solution for acoustic insulation.
Which Market Players Are Driving Growth In The Acoustic Insulation Global Market Report 2024 Market?
Major companies operating in the market are Pfizer Inc., F. Hoffmann-La Roche AG, AbbVie Inc., Novartis AG, Sanofi-Aventis (Genzyme Corporation), Bristol Myers Squibb Company, GlaxoSmithKline plc, Takeda Pharmaceuticals, Amgen Inc., Otsuka Holdings Co. Ltd., Teva Pharmaceutical, Celgene Corporation, Astellas Pharma, Servier Pharmaceuticals, CSPC Pharmaceutical Group, Genmab AS, Zhejiang Medicine Co. Ltd., Syndax Pharmaceuticals Inc., Astex Pharmaceuticals Inc., MEI Pharma Inc., SELLAS Life Sciences Group, Ambit Biosciences Corporation, Agios Pharmaceuticals Inc., Neomed Management AS, Oncolyze Inc., TC BioPharm, VERASTEM INC., Mirati Therapeutics Inc., Sunshine Lake Pharma, Sunesis Pharmaceuticals Inc.
How Is The Global Acoustic Insulation Global Market Report 2024 Market Segmented?
The acoustic insulation market covered in this report is segmented –
1) By Type: Mineral Wool, Glass Wool, Polymeric Foams, Natural
2) By End-User Industry: Building & Construction, Transportation, Oil & Gas, Energy & Utilities, Industrial & OEM
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The Acoustic Insulation Global Market Report 2024 Global Market Report 2024 provides an overview of the acoustic insulation global market report 2024market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The acoustic insulation global market report 2024 market forecast analyzes acoustic insulation global market report 2024 market size, acoustic insulation global market report 2024 market share, leading competitor and their market positions.
The Table Of Content For The Acoustic Insulation Global Market Report 2024 Market Include
1. Acoustic Insulation Global Market Report 2024 Market Executive Summary
2. Acoustic Insulation Global Market Report 2024 Market Segments
3. Acoustic Insulation Global Market Report 2024 Market Size And Template Market Growth Rate
4. Key Acoustic Insulation Global Market Report 2024 Market Trends
5. Major Acoustic Insulation Global Market Report 2024 Market Drivers
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25. Key Mergers And Acquisitions In The Acoustic Insulation Global Market Report 2024 Market
26. Top Acoustic Insulation Global Market Report 2024 Companies
27. Acoustic Insulation Global Market Report 2024 Market Opportunities And Strategies
28. Acoustic Insulation Global Market Report 2024 Market, Conclusions And Recommendations
29. Appendix
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